Stefan Thomas, the former CTO of Ripple, has unveiled a new smart contracts platform.
Under a new company named Coil, it will leverage decentralised contracts to reward creators and help consumers to avoid paywalls and traditional web advertisements.
Coil will use an open protocol suite called Interledger to enable cross-ledger payments across multiple blockchains and currencies.
He said the company’s first product would be a flat-rate subscription aimed at consumers, which will pay out earnings to any website using its new Web Monetization standard.
The project has strong technical and financial backing from Ripple, but there is currently no launch date for its first product.